Only 45 vertical rigs remain online – lowest level in decades By Richard Rostad, analyst, Oil & Gas 360 Drilling activity fell once again this week, as activity dropped for the 11th time in the past week according to Baker Hughes. A net two rigs shut down in the week, bringing the national total to 988 active rigs. Both were
Most states, basins see shifting activity By Richard Rostad, analyst, Oil & Gas 360 Drilling activity fell slightly this week, continuing an overall decline that has prevailed for most of 2019 according to Baker Hughes. A net one rig came offline this week, the smallest change in nearly two months. There are currently 990 rigs drilling in the country, the
First time below 1,000 since March 2018 By Richard Rostad, analyst, Oil & Gas 360 Drilling activity fell sharply today continuing the overall downward trend according to Baker Hughes’ Weekly Rig Count. A net 21 rigs shut down in the week, the largest decline since mid-January. This week’s drop has pushed the U.S. rig count below 1,000 rigs, the first
Total count down 10 By Richard Rostad, analyst, Oil & Gas 360 Drilling activity fell this week in the U.S. continuing a general downward trend, according to Baker Hughes Rig Count. A net ten rigs came offline in the week, leaving 1,012 active in the U.S. The entire decline came in land activity, as inland waters and offshore rig counts
EERC down for fourth straight month By Richard Rostad, analyst, Oil & Gas 360 Oil & Gas 360 has released its latest Effective Rig Count, evaluating the state of drilling activity and reported production from the major shale basins. The Effective Rig Count fell once again in March, with an effective 51 rigs coming offline in the month. The major shale
New Mexico rig count exceeds Oklahoma’s for first time in at least 28 years By Richard Rostad, analyst, Oil & Gas 360 Drilling activity decreased in the U.S. this week, according to the latest edition of Baker Hughes Weekly Rig Count. A net three rigs shut down in the week, leaving 1,022 rigs active in the country. Four land-based rigs
Texas, Permian add 16 rigs By Richard Rostad, analyst, Oil & Gas 360 American oil and gas activity increased sharply this week after falling for six weeks in a row, according to Baker Hughes. A net 19 rigs started drilling in the week, bringing the national total to 1,025. This increase partially reverses the past six-week slide, when a total
Overall activity down 10 By Richard Rostad, analyst, Oil & Gas 360 Drilling activity continued to fall this week as operators continue to adapt to lower oil prices, according to Baker Hughes Rig Count. A net ten rigs came offline in the week, equal to the drop seen last week and the sixth decline in a row. There are now
Five declines in a row By Richard Rostad, analyst, Oil & Gas 360 Drilling activity in the U.S. continues to reel from the Q4 oil price decline, based on the most recent edition of Baker Hughes Weekly Rig Count. A net ten rigs shut down this week, meaning a total of 35 rigs have shut down in five straight weeks
But Anadarko Basin faces declining production as drilling slows By Richard Rostad, analyst, Oil & Gas 360 Oil & Gas 360 has released its latest Effective Rig Count, evaluating the state of drilling activity and reported production from the major shale basins. The Effective Rig Count continued to slide in February, dropping by 33 to 2,782. This indicates that it would
One rig comes offline as operations shift By Richard Rostad, analyst, Oil & Gas 360 U.S. drilling activity declined yet again this week, the fourth decline in a row, according to Baker Hughes’ Weekly Rig Count. A net one rig shut down this week, a far smaller decline than the 11 that came offline last week. There are now a
U.S. rig count drops by 11 By Richard Rostad, analyst, Oil & Gas 360 Drilling activity continued to decline this week, the third drop in a row according to the Baker Hughes Weekly Rig Count. A net eleven rigs came offline in the week, dropping the national total to 1,027. The total U.S. rig count has fallen by 56 since
